Blood for the Baron!

if it's a business that your waiting for i'd wait for a week or so as it takes them a while to pay anything due to the accounting nature of a company, if it's a private seller then i start emailing them from tomorrow.

I gave him 5 working days to respond...Nada.
So I just sent my "You've got 5 days to sort out my paypal credit or I'm going to set up a dispute" email.

And it got me thinking... is there a time limit on this? As in after a certain time is it too late to open up a dispute? Is that what this guy is doing? Is he just stalling until its too late for me to do anything about it?

I'm not sure. I think Paypal can only refund you if he has Paypal credit. Don't quote me, though.

I think your well within the paypal time-frame. Paypal protection should cover you even if he's closed his account